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What Can I Do to Reduce My Restaurant Supply and Labor Costs?

Modern Restaurant Management

Nobody has time for that when there is a crowded dining room, to-go orders flying out the window and customers complaining about their favorite menu items going up in price. At the end of the day, there are so many ways you can minimize your operational costs and make things easier for both you and your staff.

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Will the hospitality sector see an end to the cost of living crisis?

Hotel Owner

Since my early years, I have developed my leadership and management skills across many roles in various operations, each presenting its own set of distinctive hurdles and intricacies! Now, however, we find ourselves in the midst of another formidable hurdle – the cost of living crisis.

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The Break-Even Point: A Key to Restaurant Financial Success

Synergy Suite

Understanding this critical number can help you make informed decisions about pricing, menu offerings, and cost control, ultimately leading to the financial success of your restaurant. It acts as a financial safety net, helping you make informed decisions about cost-cutting or marketing strategies to weather downturns.

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Prime Costs: Understanding and Application for Restaurants

Synergy Suite

Operating a thriving restaurant involves more than merely presenting delectable dishes and designing a welcoming ambiance. It requires a keen understanding of your restaurant’s finances and, in particular, the concept of prime costs.

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Inventory Turnover Ratio for Restaurants: Maximizing Inventory Efficiency

Synergy Suite

Strategic procurement practices, such as negotiating favorable terms, bulk purchasing , and securing competitive prices, can positively impact inventory turnover ratio by minimizing the overall cost of goods sold (COGS). Continuously assess your suppliers based on factors such as reliability, quality, and pricing.

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MRM Research Roundup: Mid-December 2019 Edition

Modern Restaurant Management

The majority of customers report spending up to $5 on extra items presented during digital ordering. And for those yet to roll out digital ordering programs, there is no better time than the present to meet your customers where they are,” adds Faily. Global food prices are rising worldwide. per person.

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Labor Cost Percentage for Restaurants: The Ins and Outs

Synergy Suite

By staying proactive with regular wage analysis, restaurants can make informed decisions about menu pricing adjustments and operational efficiencies to counterbalance the impact of rising labor costs. Study competitors and industry leaders to identify best practices in labor cost management.